Solana：新的BNB鏈被Memecoin活動和市場投機所消耗的地獄景觀

Solana目前是一個區塊鏈生態系統，隨著MEMECOIN活動和市場投機的增強而消耗的區塊鏈生態系統。平台的技術優勢

Solana is currently grappling with a surge of memecoin activity and market speculation within its blockchain ecosystem. The platform's technical advantages, such as sub-second finality and low transaction fees, have attracted a wave of speculative projects, drawing comparisons to BNB Chain, which experienced a similar trajectory during the memecoin boom.

Solana目前正在其區塊鏈生態系統中的成長活動和市場猜測激增。該平台的技術優勢，例如次秒終結性和低交易費用，吸引了一波投機項目，與BNB鏈進行了比較，後者在Memecoin Boom期間經歷了類似的軌跡。

Solana-based tokens have been driving high-frequency trading activity, echoing the early days of BNB Chain when low fees and Binance's infrastructure fueled rapid retail adoption.

總部位於Solana的代幣一直在推動高頻交易活動，在低費用和Binance的基礎設施促進了快速零售的採用時，迴盪了BNB鏈的早期。

BNB Chain, which rose to prominence in 2021, capitalized on low transaction costs and strong integration with Binance. Projects such as SafeMoon and Baby DogeCoin spurred retail interest, eventually leading to criticism over scams, rug pulls, and unsustainable tokenomics.

BNB連鎖店在2021年升起，利用了低交易成本和與Binance的強大整合。 Safemoon和Baby Dogecoin等項目激發了零售的興趣，最終導致對騙局，地毯拉和不可持續的標記學批評。

DEXes like PancakeSwap became filled with memecoins and scam tokens as the low monetary cost of attempted scams became an opportunity for criminals.

像Pancakeswap這樣的Dexes充滿了Memecoins和Sacam Sigkens，因為未遂騙局的貨幣成本低成為罪犯的機會。

Although BNB Chain has seen a resurgence this year with viral tokens like Broccoli and Test, its renewed activity has not entirely dispelled the platform's reputation, which is primarily driven by speculative trading. Further, BNB Chain’s revival is reliant on copying the pump.fun strategy on Solana rather than introducing novel technology.

儘管BNB Chain今年通過如西蘭花和測試等病毒令牌復興，但其更新的活動並未完全消除該平台的聲譽，這主要是由投機性交易驅動的。此外，BNB連鎖店的複興依賴於復制泵。關於Solana的泵策略，而不是引入新技術。

Solana, as the new BNB

Solana，作為新的BNB

Solana's evolution mirrors some of these challenges. The platform's ultra-low fees initially offered a strong incentive for traders, but network instability under high load has since eroded market confidence.

Solana的演變反映了其中一些挑戰。該平台的超低費用最初為交易者提供了強大的激勵措施，但是自從高負載下的網絡不穩定削弱了市場信心。

Data from mid-February shows that Solana's active addresses fell from 18.5 million to 8.4 million, and daily DEX volumes dropped from $35 billion to $2.4 billion. BNB Chain saw new fee activity driven by renewed memecoin interest, but this is already beginning to decline. Such figures point to networks under strain, where speculative trading may come at the expense of broader application utility.

2月中旬的數據顯示，Solana的主動地址從1850萬下降到840萬，每日DEX量從350億美元下降到24億美元。 BNB連鎖店看到了新的費用活動，這是由於新的Memecoin興趣所推動的，但這已經開始下降。這樣的數字指出了在壓力下的網絡，在這種網絡下，投機性交易可能以更廣泛的應用程序實用程序為代價。

Dom Harz, co-founder of BOB (Build on Bitcoin), told CryptoSlate,

鮑勃（Bob）的聯合創始人唐·哈茲（Dom Harz

“There’s no denying the broad appeal of meme coins, but after some high-profile issues, perhaps the memecoin frenzy has started to cool a bit.

“不可否認，模因硬幣的廣泛吸引力，但是在一些引人注目的問題之後，Memecoin Frenzy也許已經開始冷靜了一下。

This week's rug-pull accusation surrounding Argentinian President, Javier Milei’s $LIBRA token, along with earlier controversies like Donald Trump’s $TRUMP, $MELANIA and $BARRON and Hawk Tuah Girl’s $HAWK, may have done serious damage to the memecoin bullrun.”

本周圍繞阿根廷總統Javier Milei的$ libra代幣的地毯扣指控，以及諸如唐納德·特朗普（Donald Trump）的$ trump，$ melania和$ barron和$ barron和霍克·圖阿（Hawk tuah）女孩的$ hawk之類的早期爭議，可能會對梅肯·布倫（Memecoin Bullrun）造成嚴重損害。”

BNB's TVL peak was over $20 billion in 2021 but has since declined to around $5 billion.

BNB的TVL Peak在2021年超過200億美元，但此後已降至50億美元。

Solana TVL also peaked at around $10 billion in 2021 before hitting a new all-time high of around $12 billion at the start of 2025. It has since dropped to $8 billion, while the SOL price is down over 40%.

Solana TVL在2021年達到了約100億美元的高峰，在2025年初的新歷史最高點數大約120億美元之前。此後已降至80億美元，而SOL價格下跌了40％以上。

Developer sentiment on both chains has also been affected. According to DefiLlama data, both BNB and Solana have seen a dramatic drop in core developer contributions. In November 2021, Solana had over 160 core developers, with figures now showing less than ten. BNB Chain mirrors this, with a comparable fall from 115 to just 16.

這兩個連鎖店的開發人員情緒也受到影響。根據Defillama數據，BNB和Solana都看到核心開發人員的貢獻急劇下降。 2021年11月，索拉納（Solana）擁有160多名核心開發商，現在的數字少於十個。 BNB鏈條反映了這一點，從115降至16。

Institutional interest in Solana waned after a high-profile collapse of a memecoin—LIBRA—wiped out billions in market value within hours amid insider trading allegations.

在內幕交易指控中，在數十億美元的銷售中，索拉納（Solana）的機構興趣減弱了數十億美元的市場價值。

Memecoin hellscape on Solana

索拉納（Solana）的Memecoin Hellscape

Solana Labs co-founder Anatoly Yakovenko acknowledged the severe challenges, describing the ecosystem as a “hellscape” in need of permissionless, fair launch solutions. This sentiment contrasts with BNB Chain's approach, which saw a more measured embrace of speculative tokens despite periodic setbacks. However, BNB Chain has remained indifferent to US regulations, focusing on the rest of the world, while Solana appears more interested in US acceptance.

Solana Labs聯合創始人Anatoly Yakovenko承認了嚴重的挑戰，將生態系統描述為需要無許可，公平發射解決方案的“地獄景觀”。這種情緒與BNB連鎖店的方法形成鮮明對比，BNB鏈的方法在定期挫折的情況下，人們對投機令牌的擁抱更為衡量。但是，BNB連鎖店仍然對美國法規無動於衷，重點關注世界其他地區，而Solana似乎對美國接受更感興趣。

With the President of the United States launching memecoins with no underlying utility for himself and his family on Solana, memecoins appear to be the low-hanging fruit. Yet, how long before the fruit rots and Solana's reputation is closer aligned to memecoins than cutting-edge blockchain technology?

隨著美國總統發起的紀念物，在索拉納（Solana）上沒有基本的公用事業，而Memecoins似乎是低端的水果。然而，與尖端的區塊鏈技術相比，水果腐爛和索拉納的聲譽要與成員更接近多長時間？

The parallel between Solana and BNB Chain lies in this tension between growth driven by the memecoin frenzy and the quest for sustainable utility. Solana faces the need to balance market buzz with a commitment to long-term network resilience.

Solana和BNB鏈之間的相似之處在於，Memecoin Frenzy驅動的增長與尋求可持續公用事業的張力之間的張力。 Solana面臨平衡市場嗡嗡聲與對長期網絡彈性的承諾。

Once, Solana was seen as a true competitor to Ethereum, with Saga phones pushing mass adoption and technical capabilities promising an elegant implementation of Web3 for non-crypto natives. However, the Zeitgeist has become dominated by memecoins, which, while some claim will bring in new users to the space, BNB Chain's history tells a different story.

曾經，Solana被視為以太坊的真正競爭對手，傳奇手機推動了大眾採用和技術能力，有望為非crypto本地人提供優雅的Web3實施。但是，時代精神已經由Memecoins主導，儘管有些人聲稱將新用戶帶入該空間，但BNB Chain的歷史講述了一個不同的故事。

When was the last time a cutting-edge fundamentals-based project launched on BNB, spurring bullish headlines? I’d argue that a clone of pump.fun on BNB does not count.

上一次以BNB啟動的基於前沿的項目是什麼時候刺激看漲的頭條新聞？我認為BNB上的pump.fun的克隆不算在內。

Memecoins are PVP gambling, where every trader

Memecoins是PvP賭博，每個交易者